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2. Everything You Need to Know About Alexander Hamilton To Succeed In APUSH

3. Alexander Hamilton’s Background  Former indentured servant  Fought in Revolutionary War  Federalist Believed in a strong central government Wrote The Federalist Papers with Madison and Jay  1 st Treasury Secretary  Killed in a duel by Aaron Burr – 1 st “Got Milk?” Commercial  Watch “Lin Manuel Miranda Performs at the WhiteHouse”

4. Background Info  American Debt was high Both state ($21.5 million) and national $ was worth little  Report on Public Credit: Called for dealing with the debt problem Sought to gain support of the wealthy  Report on Manufacturing: Hamilton favored American manufacturing and industry Sought to protect and stimulate American businesses (tariffs)

5. Hamilton’s Plan  Excise Tax: Tax on manufactured goods (Whiskey)  Bank of the United States: Private entity with Government owning stock Conflict between Hamilton and Jefferson  Funding all debt at par: Pay off debt at face value PLUS interest Speculators made lots of $$$$  Take on state debts under national government: States incurred debt under Revolutionary War Favored by states with large debt (MA)  Tariff: Tax on foreign goods – designed to raise revenue for government and protect American industries Woooohooo, Thanks Alex! Side Note on debt: Hamilton advocated having debt. He believed the more people the US owed $ to, the more people that would want to see the US succeed. Virginia Not Cool Alex. Not cool bro!

6. The National Bank (BUS)  Was it constitutional? Two interpretations ○ Strict: If the Constitution does not specifically allow something, it CAN’T happen ○ Loose: If the Constitution does not forbid something, it CAN happen Elastic Clause – Necessary and Proper 2 nd BUS upheld by the Supreme Court in McCulloch v. Maryland  Washington sides with Hamilton Strict Loose

7. The Passage of the Plan  “Log Rolling” Voting for a bill that favors the opposition to ensure other side will vote for a bill that favors your cause  Washington D.C. Capital was moved to the South to gain support for the financial plan from the South

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